Eligibility

The intent of the Impact Investing program is to provide capital that is otherwise not available in the community, and to invest in opportunities that may not move forward without our support. We look to invest in organizations and initiatives that are local, place-based, and will yield a direct impact in Rhode Island, primarily in the areas aligned with the Foundation's six Community Priorities. 

We are looking for strong partners who, most likely, will:

• have a strong track record of operating in our state,
• have strong financials with a history of operating surpluses,
• have demonstrated an engaged and competent governance structure and management team,
• and have a track record of achieving social outcomes benefiting Rhode Islanders.

Impact investing opportunities must demonstrate a viable path for repayment, and investments must demonstrate social impact with measurable outcomes. 

The Foundation offers capital at well below market rates, with an overall portfolio target return of 3%. Most often, investments will range between $200,000 and $2,000,000. Terms generally will be no longer than 10 years.

Application Process

Interested organizations should contact Ricky Bogert, Director of Impact Investing & Housing, to schedule a preliminary meeting so that we may learn more about the proposed project and determine if it is a good fit for the Impact Investing program.

If the proposed project aligns with the Impact Investing program, we will ask that a full application be completed and submitted, together with supporting materials. Our team will then work to complete due diligence and structuring of the investment, including reviewing the proposed outcomes and plan for measurement, financial strength and conditions, organizational capacity, potential risk, readiness, and fit with the Foundation’s portfolio. 

All proposals must be approved by the Foundation’s board of directors, after being vetted by an internal team. Given the often complex nature of impact investments and substantial financial commitment from the Foundation, the approval process may take several months.